This isn't true at all BTW. The FIRE economy really came into being when Clinton signed the repeal of the Glass Steagal act.
This is true, but perhaps some context should be given that republicans did propose the bill as such. Clinton was trying to get quite a bit of legislation through. This was a piece that was really instrumental in getting republicans to work with him on other issues.
He DID, multiple times, threaten to veto this bill according to both the provisions of the bill, and the votes of republicans on other legislation at that time.
This is not something that we can just hang on Clinton solely--while I do agree with you that this set the stage for the housing market crash. That said, banks still should've known better than to do what they did.
In a nutshell, they made a shitload of money by gambling with peoples lives (mortgages and pensions simultaneously linked together in one market)--and when the going go tough they all pulled their money out.
The sickest thing in all of it was that, even though ultimately many banks became insolvent, initially--they managed to pull out most of their assets before the crisis hit them too hard.
Same thing can't be said for Joe/Jane Americans.
All that said, Republican policies have still grown the debt in modern history (20 years of the last 32) more than democrats by astronomical numbers, and have failed to produce a single surplus.
Two wars, de-regulations galore, widening of the doughnut hole, and subsidies for the corporations that need them the least (oil companies).
The republican way is untenable. It does not make sense in today's world economy.
If we don't spend on education and infrastructure, we've already lost--period. Maybe not in 10 years or 20--but for each year that passes without improvements to how we are educating young Americans--our country becomes one year stupider.
For the first time in history, many of the people dying now--are more intelligent than we can expect those who are being born today will be (on average).
You know who to blame for this?
Selfish old people who had a great education because the generation before them invested in them--who refuse now to accept the idea that they should invest in my generation.
Unfortunately, for all of us, it show. My generation is a hot mess. Jersey Shore, that's all I have to say.